June 03, 2016
News
Govt announces Rs 1.675tr for PSDP
ISLAMABAD: The government on Friday announced a total Public Sector Development Programme (PSDP) allocation of Rs 1.675 trillion for the fiscal year 2016-17, of which the federal PSDP make up Rs 800bn.
Announcing the budget, Federal Minister for Finance and Economic Affairs Senator Ishaq Dar said these funds would be utilised for various ongoing and new development schemes.
Salient features of PSDP:
CPEC projects will enter into their second year of implementation during 2016-17.
Thirteen Gwadar-based development projects are also part of PSDP 2016-17 with total estimated cost of Rs 68 billion.
Six projects of Pakistan Railways, having estimated cost of Rs 3 billion, are included to support the CPEC.
An amount of Rs 1 billion is earmarked for Green Pakistan Programme.
Rs 42 billion have been set aside for development programme in the Federally Administered Tribal Areas, Azad Jammu and Kashmir and Gilgit Baltistan.
Rs 22 billion have been allocated to the Higher Education Commission to set up new universities and campuses at district level.
The government will continue to finance construction of 100 small dams in Balochistan.
Sustainable Development Goals and Community Development Programme will continue with a total outlay of Rs 20 billion during 2016-17.
Rs 28 billion have been kept to promote balanced growth, supplement efforts of provincial governments.
Rs 100 billion allocated to enhance security and rehabilitating infrastructure to ease out resettlement of temporarily displaced persons.
Rs 600 million earmarked for national education reforms.
A total of 866 projects and programmes, with estimated cost of Rs 6 trillion, will be financed under the PSDP during 2016-17.
Prime Minister’s Youth Programme will continue with an allocation of Rs 20 billion.
A new initiative is creation of the Special Gas Infrastructure Development Fund with an allocation of Rs 25 billion.
On the provinces' demand, procurement for the Expanded Programme on Immunisation is to be made centrally, which will be financed by the provinces.
Courtesy www.dailytimes.com.pk